BAF 3M, Introduction to Financial Accounting

Course Description:

This course introduces students to the fundamental principles and procedures of accounting.  Students will develop financial analysis and decision-making skills that will assist them in future studies and/or career opportunities in business.  Students will acquire an understanding of accounting for a service and merchandising business, computerized accounting, financial analysis, and ethics and current issues in accounting.

Textbook:  Management Fundamentals, Canadian Edition, Dr. John Schemerhorn and Dr. Barry White.  May 2007 

STRAND	OVERALL EXPECTATIONS
Fundamental Accounting Practices	Describe the discipline of accounting and its importance for business; Describe the differences among the various forms of business organizations; Demonstrate an understanding of the basic procedures and principles of the accounting cycle for a service business.
Advanced Accounting Practices	Demonstrate an understanding of the procedures and principles of the accounting cycle for a merchandising business; Demonstrate an understanding of the accounting practices for sales tax; Apply accounting practices in a computerized environment.
Internal Control, Financial Analysis, and Decision Making	Demonstrate an understanding of internal control procedures in the financial management of a business; Evaluate the financial status of a business by analyzing performance measures and financial statements; Explain how accounting information is used in decision making.
Ethics, Impact of Technology, and Careers	Assess the role of ethics in, and the impact of current issues on, the practice of accounting; Assess the impact of technology on the accounting functions in business; Describe professional accounting designations and career opportunities.